HC Wainwright Has Bullish Outlook for MNMD FY2029 Earnings

Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) – Investment analysts at HC Wainwright upped their FY2029 EPS estimates for Mind Medicine (MindMed) in a research report issued to clients and investors on Friday, March 7th. HC Wainwright analyst P. Trucchio now anticipates that the company will earn $2.86 per share for the year, up from their previous estimate of $2.84. HC Wainwright has a “Buy” rating and a $55.00 price objective on the stock. The consensus estimate for Mind Medicine (MindMed)’s current full-year earnings is ($1.35) per share.

Mind Medicine (MindMed) (NASDAQ:MNMD) last issued its earnings results on Thursday, March 6th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.08). During the same quarter in the prior year, the company earned ($0.59) EPS.

A number of other research analysts have also weighed in on MNMD. Evercore ISI assumed coverage on Mind Medicine (MindMed) in a report on Tuesday, January 28th. They set an “outperform” rating and a $23.00 target price on the stock. Robert W. Baird decreased their price objective on shares of Mind Medicine (MindMed) from $27.00 to $16.00 and set an “outperform” rating on the stock in a report on Friday, March 7th. Oppenheimer restated an “outperform” rating and set a $20.00 target price on shares of Mind Medicine (MindMed) in a research note on Tuesday, December 17th. Finally, Chardan Capital began coverage on shares of Mind Medicine (MindMed) in a report on Friday, December 20th. They set a “buy” rating and a $20.00 target price for the company. Ten research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $25.11.

Mind Medicine (MindMed) Price Performance

NASDAQ:MNMD opened at $6.34 on Monday. Mind Medicine has a 12-month low of $5.03 and a 12-month high of $12.22. The firm has a market capitalization of $464.92 million, a price-to-earnings ratio of -2.81 and a beta of 2.57. The stock’s 50 day moving average price is $7.40 and its two-hundred day moving average price is $6.92. The company has a quick ratio of 9.00, a current ratio of 9.00 and a debt-to-equity ratio of 0.09.

Insiders Place Their Bets

In other news, insider Dan Karlin sold 6,643 shares of the stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $7.43, for a total transaction of $49,357.49. Following the sale, the insider now directly owns 338,013 shares of the company’s stock, valued at approximately $2,511,436.59. This represents a 1.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Robert Barrow sold 19,106 shares of the company’s stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $7.43, for a total transaction of $141,957.58. Following the sale, the chief executive officer now directly owns 526,666 shares of the company’s stock, valued at $3,913,128.38. This represents a 3.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 28,022 shares of company stock worth $208,203 in the last quarter. Corporate insiders own 2.26% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in MNMD. AWM Investment Company Inc. boosted its holdings in shares of Mind Medicine (MindMed) by 39.9% in the 4th quarter. AWM Investment Company Inc. now owns 1,193,162 shares of the company’s stock valued at $8,304,000 after purchasing an additional 340,162 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Mind Medicine (MindMed) by 20.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 85,044 shares of the company’s stock worth $592,000 after buying an additional 14,691 shares during the last quarter. Woodline Partners LP boosted its stake in Mind Medicine (MindMed) by 0.3% in the fourth quarter. Woodline Partners LP now owns 1,005,198 shares of the company’s stock valued at $6,996,000 after buying an additional 2,654 shares in the last quarter. Two Sigma Advisers LP grew its position in Mind Medicine (MindMed) by 28.1% in the fourth quarter. Two Sigma Advisers LP now owns 24,650 shares of the company’s stock valued at $172,000 after acquiring an additional 5,400 shares during the last quarter. Finally, Tang Capital Management LLC bought a new position in Mind Medicine (MindMed) in the fourth quarter valued at about $1,392,000. 27.91% of the stock is currently owned by institutional investors and hedge funds.

Mind Medicine (MindMed) Company Profile

Mind Medicine (MindMed) Inc, a clinical stage biopharmaceutical company, develops novel products to treat brain health disorders. The company’s lead product candidates include MM-120, which is in phase 2 for the treatment of generalized anxiety disorder and attention deficit hyperactivity disorder; and MM-402, a R-enantiomer of 3,4-methylenedioxymethamphetamine, which is in phase I clinical trials for the treatment of core symptoms of autism spectrum disorder.